Bitcoin Price Hits $100K as Whales Sell Over 60,000 BTC for Profits

Bitcoin (BTC) price has surged to $100,000, its highest level in over two months, triggering major market activity. As excitement builds, large investors, known as whales, have sold over 60,000 BTC to lock in profits. This sudden price jump, along with renewed whale activity and upcoming economic events, has sparked intense speculation about whether Bitcoin can break past the key $105,000 level or face another sharp pullback in the days ahead. Whales Realize Gains as Market Rallies On-chain analytics platform Santiment confirmed that large wallets moved over 60,000 BTC during the recent price increase. These sales appear to be strategic, with whales cashing in following strong bullish momentum. Glassnode reported that over 3 million BTC returned to profit as the price reached $100,000. This suggests that many market participants who were previously holding at a loss are now back in profit. The timing of these whale movements aligns with the price breaking a key resistance zone of $97,700 to $98,000. Lookonchain tracked one whale who bought back 100 BTC worth $9.78 million after selling the same amount four months earlier. That sale happened when BTC was trading at $101,874. After staying inactive, the whale re-entered the market as prices pulled back from previous highs, which indicates a deliberate strategy based on price levels. Bitcoin Price Breakout Above Key Resistance Levels Bitcoin price is trading around $100,000 after breaking above the key $95,700 resistance, as shown on the 4-hour BTC/USDT chart from TradingView. The breakout followed a period of sideways movement between $93,300 and $95,300, and was confirmed by strong bullish candles and a successful retest of the breakout zone—now acting as support. On the weekly chart via TradingView, Bitcoin maintains a strong bullish structure marked by consistent higher highs and higher lows. Key technical indicators point to continued momentum, with the RSI holding near 77.55 and the MACD line staying firmly above the signal line, both reinforcing the strength of the trend. With the price breaking the crucial $100,000 psychological level, traders are watching closely for a confirmed breakout. If BTC holds above this threshold, the next upside targets could extend toward the $120K–$150K range depending on market dynamics. Market Momentum Builds Ahead of FOMC Meeting Glassnode confirmed that over 3 million BTC have returned to a state of profit during this rally. This increase in realized gains may have encouraged large holders to sell into strength. Meanwhile, Ali Chart, a market analyst, noted that Bitcoin may retest the $97,700 resistance before the U.S. Federal Reserve’s upcoming meeting. Short-term price charts show BTC breaking out from a tight range between $93,300 and $95,300. The breakout occurred around the $95,700 level, and the price surged above $96,950 shortly after. The 4-hour BTC/USDT chart shows a strong bullish trend with higher highs and higher lows. The recent retest of the breakout level near $95,700 shows that former resistance may now act as support. If BTC holds above this level, analysts expect a possible move toward $102,000 and beyond. However, traders remain cautious about a possible “sell-the-news” event following the FOMC announcement. US States Move Toward Bitcoin Reserves In the backdrop of the price action, several U.S. The governments of states have begun rising to the challenge of creating Bitcoin reserves. Arizona passed a law to create strategic BTC addresses and New Hampshire passed a bill on creating BTC reserves. The legislation was passed and signed by both Republican and Democratic governors – a good signal for the cryptocurrency market at the state level. Texas is also reported to be following in the same footsteps. However, some states such as Florida changed their earlier strategies. Arizona’s legislators thus shifted their stance and passed the House Bill 2749 with the support of most those in the legislation. Man isn’t winning sweet—-so many nay-sayers, just days ago, whining, criticizing like little bitches and days later, we have one clean decision by NH, then reversal from Arizona Gov, next is Texas who hasn’t done anything Big since Big Oil and Gas! Is Texas coming into the... https://t.co/O4xoPwydAv — Gary Cardone (@GaryCardone) May 8, 2025 The House Commerce Committee Chairman, Jeff Weninger who spearheaded the effort, said that the bill has received bipartisan support. Source: https://www.thecoinrepublic.com/2025/05/08/bitcoin-price-hits-100k-as-whales-sell-over-60000-btc-for-profits/